Why Alpha and Omega Semiconductor Stock Fell Hard Today

The company missed analysts' average estimates for both its top and bottom lines and issued revenue guidance that didn't exactly instill confidence in investors. Alpha and Omega Semiconductor (AOS) reported non-GAAP (adjusted) earnings of $0.67 per share for the fiscal second quarter, ended Dec. 31, which was down significantly from $1.20 per share in the year-ago quarter and below Wall Street's consensus estimate of $0.88. AOS sales were down 2.4% from the year-ago quarter to $188.8 million and missed analysts' average estimate of $196.7 million for the quarter.